(A) Definition. For the purpose of this section, the following definitions shall apply unless the context clearly indicates or requires a different meaning.
FUNDS. Those funds held by the General Employees Pension Plan.
(B) Custodian duties. The Principal Financial Group or its successor is hereby designated as custodian of the funds of the Plan and is hereby empowered, within the confines of this section, to prudently invest the funds.
(C) Investment policy. Funds of the city may be invested by the investment advisor or manager retained by the city, in accordance with the Investment Policy of the city (“Policy”), as may be revised from time to time. Copies of the Policy will be kept by the City Clerk and be available for public inspection. (Ord. 1216, passed 6-18-97; Am. Ord. 1227, passed 9-3-97; Am. Ord. 1350, passed 9-6-00; Am. Ord. 1383, passed 9-5-01; Am. Ord. 1515, passed 5-18-05; Am. Ord. 2016, passed 12-6-23)